The "621 Procedure"Escrow Instructions (RE 621), Supplemental Instructions (RE 621A) and Subdivider Statement (RE 611C) were designed for the express purpose of allowing subdividers to postpone the submittal of a bond (or other security) to the Department of Real Estate (DRE) in compliance with Section 11018.5(a) of the report has been issued.The use of this procedure may result in saving the substantial cost of bond premiums.Completion Arrangement FormsRE 613 þ Common Area Completion Security Agree-ment and Instructions to Escrow Depository [24711018.5(a)(2)]RE 611 þ Bond (Completion of Common Facilities) [24711018.5(a)(2)]RE 611A þ Planned Construction StatementRE 611C þ Subdivider Statement [24711018.5(a)]RE 611D þ Irrevocable Standby Letter of Credit [24711018.5(a)(2)]RE 621 þ Escrow Instructions [24711018.5(a)]RE 621A þ Supplemental Instructions [24711018.5(a)]RE 629 þ Set-Aside Letter [24711018.5(a)(2)]Established PracticesDo not use RE 621 and 621A if you intend to use one of the following established practices: þ (2)(B) of the B&P Code, may use traditional methods to that comply with the provisions of the above code section. þ public report may furnish a bond or other security along with RE 611A, RE 611C (if partially complete), RE 613, and the appropriate clause in the buyer222s escrow instruc-tions. Include provisions in the covenants, conditions and restrictions (CC&Rs) that comply with Commissioner222s Regulation 2792.4. þ and both RE 621A and 611C should be furnished at least 45 days prior to the intended close of escrows in the subdivi-sion. This should allow DRE enough time for approval of the security amount.Final Public Reportcommon areas and facilities in the subdivision are completed and you intend to close escrows and convey title to subdivision interests prior to completion of the common areas and facilities, then you should consider the use of the RE 621, 621A and 611C in accordance with the following procedure: þ -Instruct your attorney to include Commissioner222s Regulation 2792.4 in the project CC&Rs. þ escrows cannot close until the project is completed, free and clear of liens and encumbrances or until you have furnished attendant documents, to guarantee completion of the common areas and facilities that remain incomplete as of the date of submittal of the security device and RE 611A to DRE. In a the security should ordinarily include the residential units. þ If the common areas are not complete, at least 45 days before the subdivider intends to close sales escrows, the subdivider guaranty), and a completed RE 611A. The RE 611A must describe in detail the improvements whose lien-free comple-tion is to be guaranteed by bond or other security. þ Submit maps, drawings, contracts, bids or other materials which verify the adequacy of the security amount to complete the remainder of the project. þ amount proposed by the subdivider for work not yet completed is acceptable to the DRE. After acceptance by the Budget Review staff, a copy of the executed security device and escrow instructions (RE 613) should be submitted to DRE. Upon receipt of acceptable documents, RE 621A will be executed by a DRE Investigator or Manager and forwarded to the escrow depository. After receiving RE 621A, the original security device and RE 613 escrow instructions, the escrow depository will:1) þ Execute RE 621A2) þ Forward to the DRE Investigator who is handling the 3) þ Close the open escrows, if otherwise appropriate. þ If this procedure is selected, we recommend you make your submittals promptly without long delays between actions. þ report and the submittal of the security and the RE 621A, the greater the possibility of a material change. þ -sioner222s Regulation 2800), an amended subdivision public report must be obtained. SUBDIVIþsSIONþsS STATE OF CALIFORNIAþDDEPARTMENT OF þRREAL þEEþsSTATECOMPLETION ARRþaANGEMENT þIINFORMþaATION RE 621B (Rev. 7/00) American LegalNet, Inc. www.FormsWorkFlow.com